simple formula problems

[Les]

On 07/15/2012 09:42 AM, Brad Hajek wrote:
> I have reviewed the 4 links in the FAQ in regards to using variables within
> scheduled transaction formulas, but have yet to get even a simple formula
> to evaluate correctly. I'm certain I'm just misunderstanding the
> documentation.
>
> Here is one of the formulas I'm working with for a car loan:
>
> checking account debit: 338.10
> expense account credit: interest
> liability account credit: 338.10-interest
>
> The scheduled transaction box always prompts me as expected for the
> interest variable. Based on my reading of the FAQ links, I've configured
> the subtraction formula with parenthesis around it and a colon-equals in
> front of it without any success. I've also tried several different names
> for the variable in case 'interest' is already taken for internal purposes.
>
> However, no matter what I've tried it comes out unbalanced like this:
>
> checking account debit: 338.10
> expense account credit: interest
> liability account credit: 338.10
> imbalance-USD account debit: interest
>
> Please tell me what I'm doing wrong. Thanks.
>
> Brad
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I am not sure I understand what you are trying to do, but I think it is
setting up a auto loan payment.

If this is the case, then I will offer the following:

There are usually three parts to a loan (unless it is interest only):

Loan payment amount which is a credit to your bank account;
interest payment which is a debit to "expense, interest, auto loan"
principle payment which is a debit to "liability, auto loan".

Hope this helps.